The Probability That a Call to an Emergency Help Line

question 61

Multiple Choice

The probability that a call to an emergency help line is answered in less than 10 seconds is 0.8.Assume that the calls are independent of each other.Using the normal approximation for binomial with a correction for continuity, the probability that at least 75 of 100 calls are answered within 10 seconds is approximately _______

• A)0.8
• B)0.1313
• C)0.5235
• D)0.9154
• E)0.8687

Understand the purpose and process of job evaluation in establishing pay levels.

Recognize the importance of wage and salary surveys in determining compensation.

Comprehend different methods of job evaluation and their application.

Understand the broader concept of compensation, including direct and indirect compensation, and the total reward model.

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Definitions:

Beta

A measure of a stock's volatility in relation to the overall market; a beta of 1 indicates that the stock moves with the market.

Expected NPV

The anticipated Net Present Value of a project or investment, considering the potential outcomes and their probabilities.

Standard Deviation

A statistic that measures the dispersion of a dataset relative to its mean, widely used to quantify the volatility of financial instruments.

Simulation Analyses

A statistical method that attempts to predict the outcome of a decision or investment by representing possible scenarios and their impacts.